To solve succession needs and to grow quickly
We find firms that are not up for sale yet. Practices that are looking for a transition plan or seeking to be part of a growing firm, but they don’t know how to begin the process.
This is a common problem for a large percentage of firms. They don’t want to list themselves for sale, but they have lack of succession or partial succession in place and need to become part of another firm to fix that problem or to accelerate their growth plans.
“I hear stories of how acquisitions and mergers are a disaster.” What you hear are stories about the ones that blow up because the good ones, which are the majority of them, never get talked about. We help you through the process. We will tell you to walk away when we see signs of potential problems. We will help you determine the optimal search strategy.
Why Visionary versus a broker?
Brokers sell inventory. We have no inventory. Visionary finds firms not on the market that can take your practice to the next level. We create opportunities with firms that are not sure how to take the next step. Our search is just for your firm only.
What is the fee advantage? You select the risk/reward path. We offer 3 fee options and our cost is about 50% less than most M & A firms. Why? We want to be your growth partner for life and not just one transaction.
Why is our process different? During our search process we talk with firms that are “stuck.” They cannot list themselves for sale, but they don’t have the right succession strategy in place. We provide them with an option to become part of our client’s firm with terms they can mutually structure to address their transition or growth needs.
What is the ideal win?
This varies based on the size of the firm and their objectives. To us, the ideal win is a multi-partner firm with at least one partner considering an exit in the near term, along with a younger partner who wants to be part of a larger firm to accelerate growth. This creates revenue growth and brings a succession partner into the practice.
What variables impact the search? The volume of personal tax returns. Is another office being sought? The age of the partner(s) being acquired or merged. The distance a candidate firm is from your office. There are many other qualifiers we screen for, but when setting up a search these are key questions to ask.
Don’t be misled by a low rate opportunity. Truthfully, most low rate firms are not great fits. These are easy to rule out. However, some can see significant improvement by changing the technology, processes or people doing the job.
Does Visionary seek smaller practices?
Yes. We can help you add $100,000 plus practice, but keep in mind the smaller a practice is the greater the chance it is a heavy 1040 practice, which can be hard to move.
“Does the size of the firm affect the search process?” Yes. This is a significant factor in the effort. The firm buying or merging in the smaller practice needs to consider the perspective of the candidate firm. A $200,000 practice may have concerns going into an $8,000,000 firm. They might feel lost. However a $500,000 practice going into a $750,000 practice as an acquisition might be concerned the growth will be too much for the absorbing firm.
“What’s Visionary’s ‘sweet spot’ for M & A?” We can take a practice on of any size, but the reality is practices smaller than $100,000 can be costly to sell or merge. Our ideal range is to search for firms from $100,000 to those under $10,000,000.
Organic Growth is Only Part of the Process
Eventually, every firm or some partners in a firm will seek a transition plan. Smaller firms have different needs than larger firms. Changing conditions can trigger interest that was not there the year before. Great firms of varying sizes are out there facing difficult decisions. Many of them are not listed with brokers. Our process presents a solution to these firms that can be a better fit for their unique situation.
- Increase profits & build the resale value of your firm
- Add specialties & staff
- Open a new location
- Tap into new referral sources
- Bring on younger succession partners
- Network through M & A actions
We provide a turnkey solution to build firms through CPA firm M & A.